Dow soars 400 points after Fed move

Wall Street cheers effort to support global financial system

Published: 11/30/2011 at 12:08 PM

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Stocks surged Wednesday after global central banks, including the U.S. Federal Reserve, announced a coordinated effort to provide liquidity to support the global financial system and shore up the world’s economy.

The Dow Jones Industrial Average was up more than 400 points at around 11 a.m. EST. The broader S&P 500 and the Nasdaq also gained more than 3 percent.